The chemical industry contributes significantly to the economic stability and development of a country. It provides key linkages in terms of products and technical solutions to several downstream industries like engineering, automotive, consumer durables, food processing, etc. The global chemicals industry is the largest manufacturing industry in the world, with sales of approximately USD 2.5 trillion in 2010; the Indian chemical sector was estimated to stand at US $91 billion in 2011 and has the potential to reach US $134 billion by 2015.
Petrochemicals are derived from various chemical compounds, mainly hydrocarbons obtained from oil and natural gas. These include synthetic fibres, polymers, elastomers, synthetic detergents, plastics, olefins and aromatics, and find use in daily need items ranging from clothing, furniture, construction, agriculture to medical appliances.